Brendan Rodgers would be allowed to leave Celtic for Arsenal, the club's majority shareholder Dermot Desmond has confirmed.
Rodgers is reportedly among the leading candidates to take over at Arsenal after veteran French manager Arsene Wenger said on Friday he will leave at the end of the season.
The former Liverpool boss has regularly knocked back speculation linking him with a return to the Premier League.
But Desmond indicated Celtic would be open to allowing Rodgers to take over at Emirates Stadium if the 45-year-old was to be approached.
"I'm glad he's the favourite [with bookmakers]. He's an outstanding person," Desmond told Sky Sports.
"We wouldn't want him to leave but we won't force him to stay. Hopefully his love for the club and the set up here will induce him to stay at the club.
"I don't think you can put handcuffs on anybody if they want to go to a club as good as Arsenal. It will be Brendan's decision and his decision only."
Former club captain Patrick Vieira and Germany coach Joachim Low are among the other names reportedly in the frame for the Gunners job.
Wenger named New York City FC coach Vieira, who won three Premier League titles at Arsenal, as a potential successor at a news conference on Thursday.
Speaking to reporters prior to Wenger's announcement, Rodgers intimated he is not seeking to leave Celtic, where he won a domestic treble last season, a feat he could repeat this term.
"There's still a lot of work for me to do and achieve on and off the pitch," said Rodgers. "But you can only do that if you're happy, and I couldn't be happier at this club and the support I get from the board.
"It's all very aligned and very clear and that allows me to work in confidence and it gives the stability to the team, the staff and everyone, and we can all move forward."
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